7/3/2024

Despite government efforts, the short-term rental market in Greece continues to expand. The number of short-term rental listings already exceeds the number of hotel rooms, and it is forecasted that by this summer, it will surpass 1 million for the first time.

Growth Statistics
Over the past five years, the number of short-term rental listings has increased by 300,000, while the number of hotel rooms has increased by only 30,000.

Economic Impact
Short-term rentals have become a significant segment of the tourism market with an annual turnover of €3.5 billion, which accounts for 35% of the hotel sector’s turnover. However, such growth puts pressure on infrastructure, including ports, airports, transportation systems, water supply, and electricity supply, as well as on the availability of housing for the local population.

Planned Regulatory Measures
The government is considering a number of measures to limit short-term rentals, including:

– Limiting property rental periods to 60-90 days per year.
– Restricting the number of properties available for short-term rental in areas with a housing shortage.

Consequences and Prospects
The growth of short-term rentals has both positive and negative aspects. On the one hand, it provides additional accommodation options for tourists and contributes to economic development. On the other hand, it puts a strain on infrastructure and exacerbates the shortage of affordable housing for local residents.

The government aims to find a balance between supporting the growth of the tourism sector and protecting the interests of the local population.